Morris tribune., 1887-09-21
THE CONDITION OF TRADE.
WEEKLY REPORT or a. a. DUNN q
co.'s MERCANTILE AGENCY.

A Scarcity Of Money Caused by Speculation
and Legitimate Investments--Largs Ina
portations OF Gold FAn to Relieve che
striagsncy-rhs Pis-Iroa Markss-Fal-
urss for Week.
Nrw YoRE, Sept AR @. DUN g. Co.'S
weekly review Of trade says all anticipations
OF monetary stringency this fall, which were
expressed months age, are abundAntly Justi-
hcd by the pressurs now fslt in spite Of sup-
plies from abroad, far sbeyond rsasonahis an:
ticipation. Were the merchandise move
ment alone to control, gold would b going
out In large amounts; instead, gold h coming
IN largely throsgh epsrations OF syndicases,
in purchAse II ssaFi<ssz Or for other invest
meats ~ l9ans end - shs pressure il severe
The Boston market n tight. many millions
having been sent west for railroad baiiaing
or other operations Fhiiadsiphia II csusisns
bseanss of rsesas failures. and consequences
not wholly disclosed: Cincinnati hanks are
forced to special conservation BY the Chs
cinnaat Hamilton o Dayton uncertainties,
and the effects Of the Fidelity COLLAPSE; CHI
caxo reports an enormous business done BY
nofs brokers, and high rates bid BY merchants
and manufacturers; stringency ID reported ut
at fun RATES at New Orleans; and the demand
In Cleveland, Omaha, Kansas City, and
other western cities, b unusually brisk On
account OF activity In trade or In building.
The treasury continues to absorb money! 10
holds nc all points o., SOC, 900 more gold than
last Saturday, and 500, 600 more legal tender,
against e700, 900 less silver. The demand for
ANAL bills has pressed silver notes int siss
until 4l5, oo0, 600 ara outstanding. But treas
'ury absorption obviously doas nos account
for the scarcity, In view Of the large imports,
Of gold, and the conclusion IL unavoidable
that the drain Of money to the west and south
D. unusually large Great difficulty in max
fnr time icans because New York banks
have no money 20. spare except on call, de-:
presses stocks and begins to cause curtAilmsns
OF commercial transactions. Months ago It
was foreseen that real estate speculation, and
the attempt to do In ono year all the building
headed for several years TO come, would
cause some smbarrasmens, which, b. now
falk - ~&-sEsssA FeaF
The weekly production Of pIg-iron 10 not
smaller than . year ago, as some assert, but
according to The Iron Age, Ii, 462 tons an
thracite and bituminous, against 102, ais Sept.
I, 1856, an increase OF 10 per can't Except
for q few grades the tons 10 weaker, and
heavy imports continue with much complaint
OF undervaluationS Glass works at Pitts
burgh are idle On account OF contest shout
wages The great strike Of anthracite coal
miners began on Monday, but iss coutinuancs
has probably been avsrted by concessions,
affected.
Whaat has been dull and lowsr Ia SPIT -
reduction Of ocean rates told for grairl
Liverpool Large exports from Cesifor
August. sssa~ esrice above imin'
- officsssss saported, and esxSsss
mat the effects OF the corner re 5ss felt at
Liverpool Corn in shade lower, with
somewhat better prospect a. to yield, but
there Is no longer doubt that the crop was
greatly diminished by the drought, another
effect OF which Is seen in heavy shipments of
cattle 10 depressed market Oil "boomedn
10 about Is cents on reports Of . meeting Of
producers at Pittsburg on Monday, but col
lapssd to 90 cents on Wednesday recovering
The wool market drags lffelessly,
slough Philadelphia authorities estimate the !
years clip at only 26l, 000, 900 pounds; the
fact 10 remembered that their estimates
last year were 40,0o6, 90 pounds be
low those of Mr.. Lynch. The boot and
shoe trade still improves, and dry goods are
fairly sustained. but with irrsgularity in the
demand, which makes some qualities scarce
while others move slowly.
Exports Of breadstuffs, provisions, cotton,
cattle and oil. IN August were $37, OO0, 900 in
value. 6.3 per cent above the same month
last year. But imports at New York, for
August, show an increase OF Is Per cent,
which would indicate another heavy excess j
4 imports over exports for that month.
Gold comes this way, not in payment for
goods, but as loan. II
Business failures occurring thronghcut The
United States and Canada during tke last
ssysn days. numbsr 1Sa, compared with l74
lsst week, and 1S5 for tho corresponding week